If that happens you have an illegal mortgage that could cost you big bucks civilly.

Make a call to the IRS to learn if loans that do not charge an interest rate are legal and what the IRS will do if this is attempted.In my opinion, all loans that call for a balloon payment should become immediately illegal.

Any other legal advice is ILLEGAL and may be very incorrect.Do not rely on unlicensed legal advice.

@Mehran Kamari thanks it's good to see a fellow Southern California full-time worker who invests.

No, such jobs really do exist. with 100 units, you'll be working your tail off.Try it, if you hate yourself you'll like it.Tips, approach with a really laid back personality, think before jumping.You'll be a social worker, don't take problems of others seriously.Manage your maintenance people with kid gloves but be stern.Set office hours and stick to them, put a sign on your apt. door to take up issues during office hours.Get a recorder to answer you phone in your off time and screen your calls.Set policy and stick to it, administer them fairly and equally.There should be an apt managers association in your area, join and network.Learn the eviction process and follow it to the letter, don't waste your attorney's time.Smile a lot.

Some seem to think you don't need to know what Realtors do, for a newbie they couldn't be more wrong, if you know what they can and can't do, why and how they operate, you won't ever go ask them to do something unethical or illegal and keep pie off your face or worse, get a bad reputation right of the gate. :)

I understand that it is looked down upon in general by some but are there any areas where it is deemed illegal or where it is made extremely difficult to close the deal or make it worth closing the deal?

BTW - check the ordinances on bandit signs in your area before you put them up, they're illegal in most areas around Houston.

@Raj Kumar,You are overlooking many other critical considerations to becoming a real estate agent.Of primary importance, you must follow a different set of rules.In Colorado, it is illegal for real estate agents to "take advantage" of sellers.

Any other legal advice is ILLEGAL and may be very incorrect.Seeking advice from an attorney in the area where the property is located can be a wise and very economical decision considering the alternative.